What is Quarteria?

“Quarteria has been in the works for close to 12 months. Founded by real estate brokers as a user-friendly real estate platform, we aim to offer more than any other platform that currently exists. Furthermore, we are the first real estate dApp on NEO, which will benefit from its large scalability and fee-less transactions. We are building a brand and community that will represent the largest real estate directory and transaction service on what eventually will be the largest Blockchain (NEO).”

– Matteo Cannavera, CFO

Q&A with Matteo Cannavera, CFO

Paxtradings: For those who are not familiar with Quarteria, can you explain what it is and what the team aims to accomplish?

Cannavera: Quarteria is the first decentralized residential and commercial listings database, powered by NEO. The platform will also handle transactions (both rental and sales) in multiple currencies, as well as features like Luxury Property Auctions and Reviews of Real Estate Brokers. We chose to create this network for two reasons; no one had yet brought real estate to the NEO blockchain, which is much more practical given the need for scalability since the Real Estate market is the largest asset class in the world. And secondly, because no real estate broker had designed a platform yet. Being in the top 1% of real estate brokers in the United States, our CEO is better able to enhance the user experience of the network because he deals with them every day.

Paxtradings: How does Quarteria function within the platform and why is it needed?

Cannavera: Quarteria’s token, the XQT, must be staked in two scenarios; listing a property and entering into a transaction. When listing a property, the XQT is held in escrow until the listing is taken down or sold. In the case of transactions, both buyer and seller stake XQT, attaching it to the deposit which is held in escrow until there is a clear to close. The XQT is returned to the parties once the transaction clears. The same goes for Auctions. All parties stake a small % of XQT while engaged in the auction, to keep all parties honest. XQT is only forfeited when a party pulls out of a transaction, in which case it will be reviewed by our QuartMasters.

Paxtradings: Quarteria has a built in social network. How does that help users find investments?

Cannavera: Why does a real estate platform need a social element? A social network assists those less knowledgeable on the platform. It also keeps bad actors away as the social network essentially patrols the system.

Paxtradings: You claim that the current real estate market is inefficient. How does Quarteria intend to fix it?

Cannavera: There is currently no easy way to find properties worldwide. Also, on a national scale in the United States, the Zillows and Trulias charge exorbitant fees to brokers to put their faces on properties they know nothing about. It misleads the public that those are the listing brokers. They also don’t efficiently implement video content which is in demand by the public. Lastly, there are only a handful of companies who have taken real estate to blockchain, and they’re all on the Ethereum platform, which has not proven to be able to scale like NEO. We feel NEO is the future platform for industries that need more transactions globally, especially real estate, and particularly auctions which take place in real-time, and we are the first to do it.

Paxtradings: Quarteria allows users to auction off their properties. Why should a seller use Quarteria, rather than other online services?

Cannavera: Auctioning properties is a very new development in the luxury real estate world. As a luxury real estate broker, our CEO knows what the user is looking for. The current companies that auction luxury properties are very successful, but none are on the blockchain, and none allow transactions to take place in cryptocurrencies. We are the first.

Paxtradings: Your platform facilitates transactions between renters and landlords. What are the advantages of using Quarteria for both parties?

Cannavera: Our platform allows tenants to lease a property anywhere in the world using a one page document. Signed by both tenant and landlord, the transaction becomes quick, easy, and painless.

Paxtradings: Quarteria’s platform is for international use, how do you plan to navigate the various real estate legal obstacles that vary per market on a global scale?

Cannavera: One thing that differentiates us is that we don’t intend to serve as the legal arm of any transaction. Traditional attorneys will be used in a transaction. They, along with the buyer and seller have the ability to upload all transactions onto the network, as well as any mortgage financing clearance documents, and lastly, the clear to close from title. We simply serve first as a search directory, then as an escrow and payment service. We allow the transactions to take place most efficiently.

Paxtradings: The transaction process between a tenant and a landlord sometimes can be a daunting task, between verifying employment and background checks. How does Quarteria plan to make this process more efficient?

Cannavera: Part of our one page lease document will be a section for employment, credit score, proof of funds, etc. It is up to the landlord and only the landlord to whom they wish to have occupy their properties. We will issue a disclaimer in which Quarteria is not responsible for the rejection or acceptance of a particular prospective tenant.

Paxtradings: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?

Cannavera: We have just released our MVP showing clearly how the listing template will be viewed. It was very important to us to offer a user-friendly and attractive viewing of all properties. We also put emphasis on easy searches in residential, commercial, leases and sales. Our full listing platform should be available in late 2018. Transactions to take place on the network in early 2019.

Paxtradings: As a non-Quarteria question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Cannavera: We feel Quarteria will be the leader in the real estate crypto-space for two distinct reasons; our product will be superior and offer more than the other platforms. And secondly, because people will start to see that NEO’s scalability is very important when transacting. It is also free to send NEO within the system, unlike all the fees associated with Ethereum and others. Our fee-less system within NEO is superior to anything else on the market. As for cryptocurrencies, we feel the industry will continue to grow and become more efficient and will look quite different in 3–5 years. We are super excited to see how great it becomes!

ICO Information

Pre- ICO will begin on April 24, 2018 and will end on May 8, 2018. A soft cap of 5,000 NEO is set for this period.

The main ICO will begin on May 8, 2018 and will end on June 22, 2018. A hard cap of 164,195 NEO is set for this period.

The XQT Token is a utility NEP-5 token. The token will be utilized by all the players in the network.

1 NEO = 521 XQT Tokens

Current accepted currencies for XQT include NEO and ETH.

The XQT Token is a utility NEP-5 token. The token will be utilized by all the players in the network.

How to Contribute

In order to get whitelisted for the KYC requirements, create an account by joining the token sale. Once signed up and confirmed through email, make sure to click the “Sign in” button, as it goes to “Sign up” by default.

Once you are logged in, you will be prompted for personal information and to send an identification document. This can be either a passport, driver’s license or ID card.

Open up your NEON wallet and press the “Participate in a token sale” button.

Click on “+ Add a new token to purchase.”

You will now be on the “Manage Tokens” screen, and are asked to add a “script hash.”

Your script hash will be the one provided to you on your Quarteria Dashboard.

Copy and paste this script hash to the NEON wallet in the asking field.
Enter the currency and amount you wish to contribute and agree on all terms and conditions.

Finally, add your current NEON address to the Quarteria Dashboard. By clicking the “Receive” button (1), you will see your NEO address (2).